EU banks plan to sharply tighten access credit | 12 Abril 2022

EURUSD trading plan:

Euro zone banks plan to sharply tighten access to corporate credit in the second quarter. "Banks expect a considerably stronger net tightening of credit standards for loans to firms, likely reflecting the uncertain economic impact of the war in Ukraine and the anticipation of less accommodative monetary policy," the ECB said in a quarterly lending survey. "In addition, banks expect a moderate net tightening of credit standards for housing loans and for consumer credit and other lending to households," it added. This is a negative signal for the European currency.

Investment idea: sell 1.0900 and take profit 1.0855.